BUA Cement Plc has reported a 64.43 per cent increase in profit before tax to N556.70 billion for the nine months ended September 30, 2026, compared with N338.57 billion recorded in the corresponding period of 2025.
The company’s unaudited financial results also showed that revenue crossed the N1 trillion mark, rising by 26.55 per cent to N1.09 trillion from N858.73 billion a year earlier.
Profit after tax increased by 59.77 per cent to N463.10 billion from N289.86 billion, reflecting improved operating margins, lower financing expenses and higher income from financial investments.
Gross profit rose by 44.19 per cent to N620.27 billion, while operating profit increased by 46.73 per cent to N536.51 billion.
Earnings per share also improved to N13.68 from approximately N8.56 in the corresponding period of 2025.
The improved performance was driven largely by increased cement sales, better production margins and reduced financing costs.
Bagged cement remained the company’s biggest revenue contributor, generating N1.02 trillion, representing approximately 93.82 per cent of total revenue.
Revenue from bulk cement increased significantly to N67.17 billion from N1.69 billion recorded in the same period last year, reflecting the company’s expanding bulk customer base.
Despite the growth in revenue, cost of sales increased by just 8.84 per cent to N466.45 billion, helping to lift gross profit and improve the gross profit margin to 57.08 per cent from 50.09 per cent.
Finance costs declined by 36.68 per cent to N35.52 billion from N56.10 billion, while finance income increased to N26.55 billion from N9.94 billion.
The company also recorded a net foreign exchange gain of N29.16 billion, compared with N21.63 billion in the corresponding period of 2025.
Commenting on the performance, Managing Director and Chief Executive Officer, Yusuf Binji, said the results demonstrated the company’s resilience despite operational difficulties, particularly heavy rainfall and its impact on road infrastructure.
He attributed the improved performance partly to the addition of bulk customers, acquisition of liquefied natural gas-powered trucks and restructuring of the company’s logistics operations.
Binji said the LNG trucks would help reduce the company’s environmental footprint and improve market penetration, while energy costs that had risen because of supply constraints had since normalised.
Meanwhile, BUA Cement’s total assets increased by 10.84 per cent to N2.06 trillion as of September 2026 from N1.86 trillion at the end of 2025.
The company generated N304.54 billion in operating cash flow during the period, spent N127.50 billion on property, plant and equipment and paid N338.64 billion in dividends to shareholders.
It also disclosed plans to increase installed cement production capacity from 17 million to 23 million metric tonnes annually through a proposed greenfield cement plant in Ososo, Edo State.
However, total external debt increased by 24.73 per cent to N656.85 billion from N526.63 billion at the end of December 2025, while cash and short-term deposits declined by 4.98 per cent to N266.42 billion.
The results indicate stronger profitability and improved operating efficiency, although rising energy expenses and borrowing obligations remain relevant to the company’s financial outlook.
